United Prosperity Life Insurance Co. has signed an definitive agreement to buy Shenandoah Life Insurance Co., a Roanoke, Va.-based insurer that has been in receivership over financial concerns since February 2009.

The factors that seemed a decade ago to be weaknesses for mutual life insurers appear now to be strengths, according to a new report.

Westminster American Insurance Co.’s financial strength rating was upgraded in response to the insurer’s favorable risk-adjusted capitalization and improved operating performance, according to a ratings service.

A.M. Best Co. upgraded the …  Read →